Besides the mentioned $5 withdrawal fee which is highly uncompetitive when compared to other brokers, eToro charges overnight/weekend fees. Market hours, spreads, and overnight fees vary from asset to asset and can be found here. Your personal/credit card info will be protected with the Secure Socket Layer (SSL) technology.
There are so many CFD Trading Forex brokers to compare online, and many investors get lost with so many choices. There are many benefits in only trading with a regulated broker, including financial insurance schemes, and protection from the government regulators. The best way for a trader to know if their broker is legitimate is by verifying that the broker has a license. A broker that is licensed and regulated in your home country, means that they are legitimate. If they are located in an offshore island in the middle of the pacific ocean, there is a good change that they are a scam. Also, you should avoid clicking on suspicious links or downloading software from untrusted sources.
If the platform seems too complex to use, it probably isn’t right for you. EToro’s simple interface offers some of the world’s leading fintech instruments, online learning courses, an innovative mobile app, a weekly newsletter, and much more. Generally speaking, scammers don’t go to such lengths to benefit their users.
Another key point debunking the misleading claims that eToro is a scam is the fact that this broker is endorsed by many traders. A lot of Reddit users admit that eToro is a legitimate trading platform, rubishing contrary accusations and highlighting their positive experiences with the platform. This trading platform aims to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions.
EToro is a reputable etoro company trusted by millions of users worldwide. We are regulated by multiple agencies, including the Financial Industry Regulatory Authority (FINRA) and the US Securities and Exchange Commission (SEC), which prohibit such illegal activities. Our goal is to provide you with a secure online space where you can feel safe to invest, transact, and connect within our community.
61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. It has been there in the market for more than a decade, intending to help traders so that they can earn profits when they are trading. Currently, this platform offers several tools and a good user interface for investors who are interested in trading. Also, it offers a social trading platform which is a new concept when compared to traditional trading.
While these offers might seem enticing, they are a classic sign of a scam. No sustainable business can afford to give away such large sums for free. These bonuses are designed to bait users into depositing funds they will never recover.
The eToro insurance covers cash, CFD, and all securities except cryptos. If you cannot judge yourself, I can tell you that 0.75% commission is not much to buy cryptos. It must be admitted that eToro solves part of the problem, because it allows you to invest in cryptocurrency WITHOUT complexity.
We have been a leader in the fintech industry and online investing since 2007. In order to help you avoid falling prey to phishing attempts, investment scams, and other risks, we have put together this guide. In addition, if you are ever in doubt as to whether a communication is from us or witness any other suspicious activity on the eToro platform, please do not hesitate to contact us. EToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. EToro introduced cryptocurrency trading to their platform, as these crypto assets raised quite an interest from investors all over the world. For traders who joined on April 2, 2017, or after, the size of a minimum trade depends on exposure, in the form of leverage times the invested amount.
EToro operates in accordance with FCA, CySEC and ASIC regulations, meaning that there are measures in place to protect investors. “Phishing” is an attempt by criminals to procure or intercept personal data from users by imitating a trustworthy entity, for example, with fake websites, e-mails, phone calls or SMS messages. Lack of guaranteed stop-loss protections and no private fund insurers, as well as stop-losses for cryptocurrency which cannot be lower than 25% of your exposure, also increase investor’s risk. Your positions can be liquidated, in accordance with ESMA rules, making it impossible to lose more than you have in your eToro account. Standard security features like SSL encryption and 2FA are present on the platform. Negative balance protection means that eToro can in the rare occasion in which market conditions cause your account’s balance to go negative, absorb the loss and balance your account.
The website uses fake bonuses, false celebrity endorsements, and impossible withdrawal conditions to steal from victims. Users should be extremely cautious of any platform offering massive bonuses with minimal requirements, as these are often traps. Always verify the legitimacy of a platform, check for proper licensing, and avoid sites with vague policies and no verifiable ownership.
You’ll find answers about copy trading, deposits/withdrawals, verification, community, your account, troubleshooting, and much more. Some parts of the help center do seem a bit outdated and are even reporting 404 errors as of the moment of writing. If you already have social media like Facebook and Google, you can use one of them to automatically enter your name on the register screen. Enter your e-mail, and your desired password (will need to have 6-20 letters, one capitalized letter, a number, or a symbol).
It would seem like the public recognized the quality of the platform as eToro has grown significantly since its inception; it currently boasts a user base of about 7 million users worldwide. To protect your account, we strongly recommend that you follow the steps below regularly. You should perform these steps more frequently if you notice any suspicious behavior, such as reduced speed, pop-up advertisements, or changes to your account which you did not make.
In more severe cases, browsing hijacking can lead to unauthorized access to online accounts. PUPs may attempt to steal login credentials, financial information, or other sensitive data, putting users at risk of identity theft or fraud. Suitable for beginner, intermediate, and expert traders alike, the company was founded in 2007 and has been operational for a staggering 18 years and still counting. I recommend this broker to any trader who knows what they are doing.
Inactivity fees will punish remaining account balances quite heavily, charging $10 per month after 12 months of no trading activity. Certain trade instruments offer stop losses which are there to ensurethat your position is liquidated if a set stop-loss price is reached on themarket. While there are always unforeseen events that can cause a sudden shift in an asset’s price, resulting in a loss, responsible investors stay informed and diversify their portfolios to reduce risk. EToro encourages its users to share their real names and pictures to ensure transparency. Moreover, depositing clients are subject to a strict verification process, making sure they are who they claim to be. Install trusted antivirus software on your computer and mobile devices, and set them to scan regularly.
